Launched by Chinese car rental firm Car Inc. in January 2015, Ucar received US$250 million from Warburg Pincus LLC, parent company Car Inc., Legend Holdings and other investors in a series A funding round in July 2015.

The latest investment may indicate that Alibaba will focus on Ucar in the ride share segment going forward, says the reports.

The Internet giant is also an investor in Chinese ride share giant Didi Kuaidi, which counts both Alibaba and its rival Tencent Holdings Ltd. and many leading International investors as its backers.